“It’s an indirect tax on the masses. The service providers will not feel it that much. They will accommodate it and add it to their cost of services, and the masses will keep suffering.”
Implementing the cybersecurity levy looks as though the CBN aims retrogression of digital banking.
The essence of financial freedom lies in the ability to make choices aligned with personal interests and goals, and this new policy appears to curtail that autonomy.
The new guidelines, instead of paving a pathway for prosperity, seem to pose a potential peril to the pulsating crypto pulse. In the recent Human Freedom Index (HFI), co-published by the Cato Institute and Fraser Institute, Nigeria is placed at 118th, a rank too poor for Africa’s biggest economy. Most of the countries that rank highly in the Human Freedom Index invest in cryptocurrency.
…Singapore recognises cryptocurrency as a major economic booster; hence, it places no restrictions on its trade. Likewise, Switzerland, Germany, and the US. These countries recognise the advantages of cryptocurrency and prioritise it as one of their economic boosters.
Dear Advocate of Reasoning, As the month winds up, this edition will draw us back to what we have covered. In case you missed any
When governments come out to protect the market, they hurt the economy and the people bleed.
The policy could be implemented in a way that does not disproportionately affect those who are already struggling to survive.
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